topic Where can I enter partner distribution (Form 1065, Schedule M-2, line 6) in the wizard mode on TurboTax Business? in Business & farm

Where can I enter partner distribution (Form 1065, Schedule M-2, line 6) in the wizard mode on TurboTax Business?

lexinshan — Tue, 04 Jun 2019 00:56:32 GMT

I am a 30% partner of an LLC. We made distribution of 2017 profit on 12/31/2017, so those distribution shows on my book Balance Sheet. I think i need to properly enter it onto tax software so tax BS can reconcile with my book BS.

Yes, you can enter capital balance information (including...

PatriciaV — Tue, 04 Jun 2019 00:56:34 GMT

Yes, you can enter capital balance information (including distributions) under Business Info >> Partner/Member Information.

Edit each partner and follow the prompts to the page "Member Capital." Cash and property distributions are entered in the last two boxes (see screenshot below - click to enlarge).

When I go to Business Info >> Partner/Member Information...

wacowoodworks — Tue, 04 Jun 2019 00:56:36 GMT

When I go to Business Info >> Partner/Member Information and edit the partners, I do not get the "Member Captial" page. Why is this? I cannot figure out how to enter the partner contributions and distributions for the year. I am using the 2018 version.

Re: When I go to Business Info >> Partner/Member Information...

numberoneplanners — Sat, 28 Mar 2020 17:38:04 GMT

Did you ever find where to enter the partnership distributions? I'm looking at the 2019 version and when walking through the partner information, it does not give the option to enter distributions for one of our partners.

Re: When I go to Business Info >> Partner/Member Information...

vmolano — Wed, 29 Apr 2020 21:12:32 GMT

Keep hitting "continue" after you pass the percentage amounts, and you'll see partner capital. below it, you'll see "Cash distributions partner received from partnership" and other similar fields.

Re: Yes, you can enter capital balance information (including...

dlegreen — Sat, 12 Mar 2022 19:26:08 GMT

I don't get these boxes to enter anything. After the partner info, there are only four check boxes, no place to enter any distributions.

Re: Yes, you can enter capital balance information (including...

Vanessa A — Mon, 14 Mar 2022 15:20:04 GMT

If you are in the Partner/Member Information section click edit next to the partners name click through a couple of screens. The box to enter the distributions comes after the Partner Ownership Percentage. It says Cash Distributions Partner Received.

There you will enter the cash distributed. If you distributed assets you will enter them below the cash distributions.